Pay-by-bank

Pay-by-bank allows customers to pay directly from their bank account using secure Open Banking connections. 

No cards, no redirects, and instant confirmation.

Key Benefits

Higher conversion rates
Customers complete payments directly in their banking environment.

Lower transaction costs
Avoid card scheme fees and intermediaries.

Instant payment confirmation
Get real-time status updates for better processing.

Secure & compliant
Built on regulated Open Banking infrastructure.

How Pay-by-bank works

1. Customer selects Pay-by-bank at checkout
2. They choose their bank
3. They authenticate via their bank (e.g. app or login)
4. Payment is confirmed instantly
5. You receive real-time confirmation

Security & Compliance

Pay-by-bank uses strong customer authentication (SCA) and complies with PSD2 regulations.

• No sensitive data stored by merchants
• Authentication handled by the customer’s bank
• Fully encrypted communication

Features

• Bank account payments across supported regions
• Real-time transaction status
• Seamless checkout integration
• Mobile and desktop optimized

When to use Pay-by-bank

Pay-by-bank is ideal for:

• E-commerce checkouts
• Subscription payments
• High-value transactions
• Markets with strong Open Banking adoption

Learn more

For full product details, check our flyer below or visit:
https://qwist.com/en/products/activate/pay-by-bank/